reAlpha Tech (NASDAQ:AIRE) Trading 11.5% Higher – What’s Next?

reAlpha Tech Corp. (NASDAQ:AIRE) shares traded up 11.5% on Friday . The company traded as high as $2.08 and last traded at $2.03. Approximately 90,597 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 74,692 shares. The stock had previously closed at $1.82.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of reAlpha Tech to a “sell” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, reAlpha Tech currently has an average rating of “Hold” and a consensus target price of $50.00.

reAlpha Tech Stock Up 11.5%

The business has a 50 day simple moving average of $3.11 and a 200 day simple moving average of $7.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a market cap of $10.88 million, a PE ratio of -0.43 and a beta of -2.99.

reAlpha Tech (NASDAQ:AIRE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.25. The company had revenue of $0.84 million during the quarter, compared to the consensus estimate of $1.28 million. reAlpha Tech had a negative return on equity of 258.24% and a negative net margin of 430.43%.

Hedge Funds Weigh In On reAlpha Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIRE. Geode Capital Management LLC raised its position in reAlpha Tech by 120.4% during the fourth quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock valued at $393,000 after acquiring an additional 514,306 shares in the last quarter. State Street Corp grew its position in reAlpha Tech by 49.9% in the fourth quarter. State Street Corp now owns 242,650 shares of the company’s stock worth $101,000 after acquiring an additional 80,800 shares in the last quarter. Virtu Financial LLC grew its position in reAlpha Tech by 56.1% in the fourth quarter. Virtu Financial LLC now owns 178,189 shares of the company’s stock worth $74,000 after acquiring an additional 64,039 shares in the last quarter. Finally, Scientech Research LLC acquired a new position in shares of reAlpha Tech during the 3rd quarter worth $87,000. Institutional investors own 1.02% of the company’s stock.

reAlpha Tech Company Profile

reAlpha Tech (NASDAQ: AIRE) is a real estate technology company specializing in the acquisition, renovation, and management of single-family rental properties across the United States. The company leverages proprietary data analytics and machine-learning models to identify undervalued houses in high-potential neighborhoods. Once acquired, these properties undergo a standardized renovation process designed to maximize rental value and minimize maintenance expenses, after which they are added to reAlpha’s rental portfolio.

In addition to direct property ownership, reAlpha Tech offers a subscription-based investment platform that enables accredited and non-accredited investors to participate in fractional ownership of residential real estate assets.